Graham Capital Management L.P. Buys 10,996 Shares of The Allstate Corporation $ALL

Graham Capital Management L.P. lifted its stake in shares of The Allstate Corporation (NYSE:ALL) by 47.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,011 shares of the insurance provider’s stock after purchasing an additional 10,996 shares during the period. Graham Capital Management L.P.’s holdings in Allstate were worth $7,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dorato Capital Management bought a new stake in Allstate in the 4th quarter valued at $27,000. Navalign LLC acquired a new stake in Allstate during the 4th quarter valued at $27,000. Princeton Global Asset Management LLC lifted its holdings in Allstate by 101.3% during the 4th quarter. Princeton Global Asset Management LLC now owns 151 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 76 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in Allstate during the 3rd quarter valued at $31,000. Finally, Cornerstone Financial Management LLC acquired a new stake in Allstate during the 4th quarter valued at $32,000. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ALL. Keefe, Bruyette & Woods downgraded Allstate from an “outperform” rating to a “market perform” rating and cut their price target for the company from $266.00 to $242.00 in a report on Monday, June 8th. Zacks Research downgraded Allstate from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Barclays raised their price target on Allstate from $207.00 to $208.00 and gave the company an “underweight” rating in a report on Wednesday, April 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $231.00 price target on shares of Allstate in a report on Thursday, March 5th. Finally, Weiss Ratings raised Allstate from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 23rd. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $240.33.

Insider Transactions at Allstate

In other news, insider Mark Q. Prindiville sold 1,550 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $216.27, for a total transaction of $335,218.50. Following the sale, the insider directly owned 27,558 shares of the company’s stock, valued at approximately $5,959,968.66. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrea Redmond sold 2,225 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the sale, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 22,353 shares of company stock valued at $4,851,560. 1.55% of the stock is owned by corporate insiders.

Allstate Stock Up 0.7%

ALL stock opened at $223.35 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $57.49 billion, a price-to-earnings ratio of 4.93, a PEG ratio of 0.40 and a beta of 0.19. The business’s fifty day moving average price is $215.29 and its two-hundred day moving average price is $209.04. The Allstate Corporation has a fifty-two week low of $188.08 and a fifty-two week high of $227.62.

Allstate (NYSE:ALL) last posted its quarterly earnings data on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, topping the consensus estimate of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analysts’ expectations of $15.24 billion. Allstate had a return on equity of 42.66% and a net margin of 17.81%.The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.53 EPS. On average, equities analysts anticipate that The Allstate Corporation will post 29.43 earnings per share for the current year.

Allstate Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $1.08 per share. The ex-dividend date is Monday, June 1st. This represents a $4.32 annualized dividend and a yield of 1.9%. Allstate’s dividend payout ratio (DPR) is presently 9.53%.

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.